A chain is only as strong as its weakest link, so the saying goes. When it comes to the current state of the global supply chain, weak links are everywhere. Today, massive dislocations can be found in the container market, shipping routes, ports, air cargo, trucking lines, railways, and even warehouses. These weaknesses are, in turn, leading to shortages of key manufacturing components, creating order backlogs, delivery delays, and a spike in transportation costs and consumer prices.
The current situation demands businesses to accurately know the specifics of what product they have, in what quantity, and in which location, along the supply chain. The more detail you have about inventory and assets and the more knowledge you have of your supply chain, the better are your chances to deliver product to customers efficiently and cost-effectively.